Seaport Res Ptn Predicts KB Home FY2024 Earnings

KB Home (NYSE:KBH) – Seaport Res Ptn issued their FY2024 earnings estimates for shares of KB Home in a research report issued on Sunday, November 3rd. Seaport Res Ptn analyst K. Zener expects that the construction company will post earnings per share of $8.42 for the year. The consensus estimate for KB Home’s current full-year earnings is $8.44 per share. Seaport Res Ptn also issued estimates for KB Home’s Q4 2024 earnings at $2.44 EPS.

Other analysts also recently issued reports about the stock. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective on the stock. in a research report on Thursday, September 5th. Barclays upped their price target on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Evercore ISI raised their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Bank of America lifted their target price on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Wedbush increased their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.50.

KB Home Trading Up 2.9 %

NYSE KBH opened at $82.02 on Wednesday. KB Home has a 12 month low of $50.08 and a 12 month high of $89.70. The stock’s fifty day moving average price is $82.28 and its 200-day moving average price is $76.42. The stock has a market cap of $6.01 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.66 and a beta of 1.81.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $1.80 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 14th. KB Home’s payout ratio is 12.82%.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.52% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several hedge funds have recently bought and sold shares of KBH. LSV Asset Management boosted its stake in shares of KB Home by 118.4% during the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock valued at $74,138,000 after purchasing an additional 572,800 shares during the period. Swedbank AB purchased a new stake in shares of KB Home in the first quarter valued at approximately $13,047,000. WINTON GROUP Ltd increased its holdings in KB Home by 754.7% during the 2nd quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock worth $14,512,000 after purchasing an additional 182,595 shares during the period. American Century Companies Inc. raised its position in KB Home by 9.6% during the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after purchasing an additional 147,326 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of KB Home by 190.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 104,708 shares of the construction company’s stock worth $7,348,000 after buying an additional 68,697 shares during the period. Institutional investors own 96.09% of the company’s stock.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.